Stock in Mylan falls as it announces no new products in 2017

Aug. 9 (UPI) — Pharmaceutical maker Mylan NV announced it would not launch any new medications to the U.S. market in 2017.

The company faces regulatory uncertainty in the rollout of two new products: generic versions of Teva Pharmaceutical Industries’ Copaxone, used to treat multiple sclerosis, and GlaxoSmithKline’s Advair, used to treat asthma and COPD. The delay until at least 2018 cuts the company’s earnings outlook to between $11.5 billion and $12.5 billion.

Earnings of $12.25 billion to $13.75 billion were previously expected. The company also lowered its forecast for adjusted earnings per share to about $4.30 to $4.70 per share, down from $5.15 to $5.75 as previously predicted.

The price of Mylan stock fell 9.09 percent, to $28.90 per share, in pre-market trading on Wednesday.

Mylan has been dealing with increased competition from less expensive generic drugs amid the expiration of patent protections on its proprietary drugs.

Sales of its signature EpiPen autoinjector, used to treat anaphylaxis, fell 9 percent in the second quarter of 2017 as generic versions came on the market, even though the market segment saw a 4 percent increase in sales.